Press
NCUA posts new economic update
Latest Video Discusses Economic Outlook for 2015 and Looming Risk
ALEXANDRIA, VA (March 31, 2015) — The economic growth outlook for 2015 looks solid, but is less optimistic than a few months ago and oil producing regions may experience rising unemployment, according to a new Economic Update video released today by the National Credit Union Administration. If forecasts are accurate, most credit unions should see continued loan growth and improvements in loan quality.
The latest video in the agency’s Economic Update YouTube series is available here.
The video covers the current outlook and key credit union results from year-end 2014. The video also discusses the effect of low oil prices on different states and regions, including the potential negative employment effects in oil producing regions.
The video also recaps the recent Federal Open Market Committee announcement. Federal Reserve interest rate policies will have important implications for credit union interest rate costs. More than half of credit union deposits are currently in accounts paying rates that closely follow short-term money market rates like the federal funds rate or the three-month Treasury bill.
Credit unions are encouraged to take advantage of NCUA’s interest rate risk resource webpage to better understand the risk those changes present.
NCUA’s economic update video series is an ideal information resource for credit union board members, loan officers and management and is available on NCUA’s YouTube channel.
NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 99 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. At MyCreditUnion.gov and Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues.